When you are gambling, you want to have the best chance to win money that you can. The chances of winning at any game are defined by the odds of the game. The higher the odds of a game are, the less chance you have of winning. If you want to use the odds to help you understand what game to play, what to bet and what the likelihood of you winning are, you have to learn to calculate the odds.
Keno is a Popular Game
One of the games that millions of people are turning to is keno. It is a lottery style game that can offer very large payouts. It is popular in both traditional casinos and online gaming sites. The people who play keno often dream of hitting the big jackpot. If they do not know how to calculate the odds of keno, they might not be making the right best to win the money that they are dreaming of.
Understanding the Game
The first thing that you have to do to calculate and understand the odds of keno is to understand how the game is played. The keno board consists of 80 numbers. The game will select numbers and reveal them one at a time. A player can choose between one and 20 numbers to bet on. The amount they can win will depend on how many numbers the player selects and the number that matches what the game reveals.
The payout of scoring hits (when the player’s number matches the game’s number) is higher when the paler selects fewer numbers. In other words, if the player selects 5 numbers and hits on all 5 numbers, they will receive a higher payout than if they hit on 5 numbers but had to select 10 to get those 5.
The need to combine not only getting hits with selecting as few numbers as possible is why players need to understand the odds when playing keno. There is a formula that you can use to calculate the exact odds of the best that you make in keno.
C(N,K) * C(80-N,20-K) p(N,K) = C(80,20)
N is the number of spots that you choose and k is the number of spots that you will hit exactly. In simpler terms, if you choose one number out from the eighty on the board and the game selects 20 numbers that you need to match, the odds end up being 25% that you will match more numbers.
The more numbers you are trying to match, the lower the probability of matching them will be.
What Strategy to Use
Most people will not sit there and figure out the exact odds to determine how they are going to bet. Much of the strategy that people use is based on a feel and how lucky they think they are. If they think that a set of numbers is hot, they will be more likely to choose the best way to get the most money by selecting those numbers. They will select fewer numbers with the hope of matching more of them.
If they feel the machine is cold, they will select more numbers to increase the chance of them winning a smaller jackpot. When the feeling is just right, they will choose the most numbers they can with the hopes of matching them all and breaking the bank at the casino.